This can depend on the development also. Usually if you bought off plans a couple of years ago and property is only ready now your lender might require a valuation pre-letter of offer but generally letter of offer issues first, with the condition that the valuation comes in at a certain amount. This is due to the loan to value clauses. Different LTV's for different properties and circumstances. FTB's can get 100% but generally depends on size of salary. Affordable propertys can get 97% LTV funding but general rule of thumb is 92% LTV. Some lenders have lower LTV's for switchers and investors etc. Ask your mortgage advisor as they are the ones inputting the clause.